Michael Widmer, President of the Massachusetts Taxpayers Foundation told a Statehouse hearing Wednesday that his group forecasts a 4.7 percent increase in tax revenues…or about $1 billion. The Massachusetts Department of Revenue projects similar growth.
The Massachusetts Taxpayers Foundation urged the governor to use the extra cash to stabilize the pension system and warned the economy could slow again next year and transportation costs could add up fast.
Michael Widmer, president of the independent Massachusetts Taxpayers Foundation, said the group's forecast called for tax revenues to grow by 4.7 percent in the fiscal year that begins July 1. But he cautioned that the less than robust economic recovery means the next budget will be another challenging one.